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Feb 9, 2013
02/13
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and matt schaub eliminated the trade deficit -- could reduce the trade deficit by roughly 190 or $400 billion create between 2.2 m. 4.7 million jobs. doing that would increase manufacturing back to 11 million jobs. that's a big down payment, so i think one of the things we need to do is create demand. as we did in 1990s and didn't do in the last decade. just went to foreign sources. we need to shift the demand to domestically produced goods and the voters vote in the hiring of the mystic workers. manufacturing jobs are amongst the best, especially those without a college degree. high wages, good tendency, compared especially to other work in the economy. >> great, thanks. bruce, you work in washington d.c. at dupont. >> i mostly on a plane though. >> i'm just going to say -- in washington d.c., industrial policy is a dirty word, but if you go many other domestic way, while managing a city that practice is something that looks to me like industrial policy. they're picking and winners and losers in giving tax credits to specific companies and trying to build clusters. what's the best wa
and matt schaub eliminated the trade deficit -- could reduce the trade deficit by roughly 190 or $400 billion create between 2.2 m. 4.7 million jobs. doing that would increase manufacturing back to 11 million jobs. that's a big down payment, so i think one of the things we need to do is create demand. as we did in 1990s and didn't do in the last decade. just went to foreign sources. we need to shift the demand to domestically produced goods and the voters vote in the hiring of the mystic...
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Feb 5, 2013
02/13
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CSPAN2
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change in deficits on the alternative fiscal scenario. it's on the right income on page 33 just above the memorandum lines. and you can see on the far right side that that set of policies would add $2.088 trillion of deficits over the decade, it would be about $450 billion of debt service, so the deficit as hell would be about two and a half trillion dollars more. -- then we shall in the basement of the alternative scenario includes all of the pieces essentially of our previous alternative scenario that have not now been enacted in law or allowed to expire. so it includes the effect of this tax provisions are still scheduled to expire. it includes the effect of the sequestered, and it includes the effects of medicare payments to physicians. >> [inaudible] >> so i don't think there's a simple answer to the question about why more revenue will be collected. our income tax system left to its own devices will generally show over time and larger share of income being collected, impacts, because it would sometimes known as real bracket increase
change in deficits on the alternative fiscal scenario. it's on the right income on page 33 just above the memorandum lines. and you can see on the far right side that that set of policies would add $2.088 trillion of deficits over the decade, it would be about $450 billion of debt service, so the deficit as hell would be about two and a half trillion dollars more. -- then we shall in the basement of the alternative scenario includes all of the pieces essentially of our previous alternative...
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Feb 7, 2013
02/13
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CSPAN
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that's just the nature of dealing with the size deficit -- size of deficits that you got. my preference, frankly, is that the congress would do the big deal, get it done, get this behind us, detrigger sequester, some this constant uncertainty, this month-to-month situation where we don't know what the hell we're going to get. that should end. in the absence of that deal, obviously i'll support whatever package you can put together to try to detrigger sequester. whatever you can do to make sure this doesn't happen. i mean, i cannot imagine that people would stand by and deliberately hurt this country in terms of our national defense by letting this take place. >> i'll only add briefly that most of the things we're doing are reversible. that is our goal, that they would be reversible. even if you reverse them it will take sometime, and i can't predict that, we're trying to stretch readiness. i want to make sure you all realize one other thing. we took the decision on the carrier postponement very seriously because there is a human dimension to this. if you're getting ready t
that's just the nature of dealing with the size deficit -- size of deficits that you got. my preference, frankly, is that the congress would do the big deal, get it done, get this behind us, detrigger sequester, some this constant uncertainty, this month-to-month situation where we don't know what the hell we're going to get. that should end. in the absence of that deal, obviously i'll support whatever package you can put together to try to detrigger sequester. whatever you can do to make sure...
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Feb 11, 2013
02/13
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CSPAN
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they're asking us to stop running deficits. they want us to learn these bad habits all over again. . 960 billion commitments and the same amount of payments. any director of a country with tell you that is economic suicide. you should not hide behind david cameron. you are faced with a choice between two opposing camps. he had made it clear what -- you have not made it clear what choice you will make. make the right choice. do not make the cameron option he wants to unravel the european union. you need to come out and say this to your fellow citizens. >> i want to thank you of for having got the budget treaty ratified in parliament. that is a good sign for europe. i looked long and hard. i do not see what happened to your euro growth pact. where have those gone? we are here to talk tand to negotiate. there are points who will not give ground on. there's the question of flexibility. we need a genuine flexibility between budgetary lines and years. that is how we have managed to run the budget properly in the context of austerity
they're asking us to stop running deficits. they want us to learn these bad habits all over again. . 960 billion commitments and the same amount of payments. any director of a country with tell you that is economic suicide. you should not hide behind david cameron. you are faced with a choice between two opposing camps. he had made it clear what -- you have not made it clear what choice you will make. make the right choice. do not make the cameron option he wants to unravel the european union....
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Feb 10, 2013
02/13
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WUSA
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>> the money supposedly is going to reduce the deficit. but the problem is, the sequestration is indiscriminate. if you let leon panetta do those cuss and figure out where they should come from and did it with a scalpel that would be fine. but i think the defense department can handle this. the president is not going to come up with cuts and programs that he wants if the republicans don't say what they want. whether they want it to be the virgin birth of spending cuts. >> ryan, you and i know that the 95 billion goes back in the private sector. what happens to it then? then it becomes much more lucrative than 85 billion because it's reinvested. where? in private enterprise, correct? >> it doesn't necessarily go back into the private sector. it van issues. >> how does that happen? >> they don't borrow. >> it's not being borrowed. >> but if it's still -- if it's no longer borrowed, and in the private sector where it is functioning under the rules of -- >> sitting in the banks. >> and the program matt sound capitalism. issue three. gop soul s
>> the money supposedly is going to reduce the deficit. but the problem is, the sequestration is indiscriminate. if you let leon panetta do those cuss and figure out where they should come from and did it with a scalpel that would be fine. but i think the defense department can handle this. the president is not going to come up with cuts and programs that he wants if the republicans don't say what they want. whether they want it to be the virgin birth of spending cuts. >> ryan, you...
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Feb 8, 2013
02/13
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CSPAN
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this deficit was not caused by our federal work force. you are not responsible for their deficit. [applause] >> we could talk about the policies of going to war and how we pay firt etc. but we have these large deficits and we need to deal wit. let me bring you up to date because the last time i was here was a little over a year ago and we were talking about the budget control act and how we had to deal with this deficit and how we were going to bring down discretionary domestic spending and how we were going to deal with longer term solution that is required to us deal with revenues and mandatory spending and i ask your understanding as we pass the budget control act. and at the we were analyzing a recommendation that came out of a presidential commission known as the boles simpson commission. that commission said we had to reduce the deficit by $4 trillion or $5 trillion to have sustainable growth in our country. take a minute and look at the progress that we've made since that last visit. simpson bowles which was generally recognized as a balance add proach, a bipartisan approac
this deficit was not caused by our federal work force. you are not responsible for their deficit. [applause] >> we could talk about the policies of going to war and how we pay firt etc. but we have these large deficits and we need to deal wit. let me bring you up to date because the last time i was here was a little over a year ago and we were talking about the budget control act and how we had to deal with this deficit and how we were going to bring down discretionary domestic spending...
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Feb 10, 2013
02/13
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FBC
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. >> we got that cbo report this past week, 7 trillion dollar in additional deficit and factor in what that 600 billion dollars in tax hikes that the democrats did already push through and how does that balance things? but the point about baltimore is interesting because that's where this nation could possibly be headed. you continue to raise taxes and you don't cut spending and you wind up on the brink of bankruptcy, exactly where that city is. >> you know, ben, you say we're all eventually going to have to pay higher taxes, but as the only item in your play book how to fix your economy it doesn't seem like it's ever going to work. >> i keep thinking if taxes are so terrible, why don't we just have no taxes at all. why don't we pay for-- >> 100% taxes. >> why don't we have no taxes at all and why don't you not interrupt me for once? >> i can't help it. >> why don't we have no taxes at all and why don't we have some some balance in the budget. and for gosh sakes, we're grownup disciplined people and we're supposed to balance the budget not supposed to be like small children. >> okay, c
. >> we got that cbo report this past week, 7 trillion dollar in additional deficit and factor in what that 600 billion dollars in tax hikes that the democrats did already push through and how does that balance things? but the point about baltimore is interesting because that's where this nation could possibly be headed. you continue to raise taxes and you don't cut spending and you wind up on the brink of bankruptcy, exactly where that city is. >> you know, ben, you say we're all...
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Feb 11, 2013
02/13
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like the national institutes of health where you are hindering growth, you are not going to reduce the deficit. so what we do need is more revenue and more cuts. >> reporter: for senator john mccain, defense cuts are the most damaging. >> the world is very dangerous. i'm sorry, i'm a little emotional about this but the men and women serving in the military deserve better. the consequences are severe. it requires a bipartisanship. would i look at some revenue closers? maybe so, but we've already just raised taxes. why do we have to raise taxes again? >> reporter: national security also an issue. after last week's senate confirmation hearings for two key cabinet members. senator lindsay graham sear reed in again on the attack in benghazi, libya, angry after hearing president obama may not have followed up with his defense team after learning about the attacks. >> the american people need to know what their commander in chief, did if anything, during the attack. i don't think we should allow brennan to go forward for the cia director shirntion hagel to be confirmed as secretary of defense until t
like the national institutes of health where you are hindering growth, you are not going to reduce the deficit. so what we do need is more revenue and more cuts. >> reporter: for senator john mccain, defense cuts are the most damaging. >> the world is very dangerous. i'm sorry, i'm a little emotional about this but the men and women serving in the military deserve better. the consequences are severe. it requires a bipartisanship. would i look at some revenue closers? maybe so, but...
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Feb 5, 2013
02/13
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CURRENT
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so you're seeing a decline in the amount of deficit. the question is are the republicans really crying wolf when they continue to talk about blowing deficits when, in fact the measures that the president and congress have taken so far have actually caused the deficit to decrease. >> well, exactly. especially the last plan where we did have a balanced approach for once. but what speaker boehner has said is that the president got his revenue, and so there is not going to be a balanced approach any more. you know, when paul ryan put his budget forward last year it wouldn't have reached balance for 20 or 30 years. so as you're talking about a balanced budget in ten years the only way from their perspective to do that is absolute draconian cuts. when they're talking about reforms, you and i are very well aware that is just code word for taking medicare and turning it into a voucher. taking medicaid and turning it into a block grant which is another way of saying a significant cut to these programs that i believe are part of what makes us a g
so you're seeing a decline in the amount of deficit. the question is are the republicans really crying wolf when they continue to talk about blowing deficits when, in fact the measures that the president and congress have taken so far have actually caused the deficit to decrease. >> well, exactly. especially the last plan where we did have a balanced approach for once. but what speaker boehner has said is that the president got his revenue, and so there is not going to be a balanced...
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Feb 12, 2013
02/13
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KPIX
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since the top of the year, big deficit for rainfall. we are down 5.5" but the deficit when you go back to july 1 our water year only an inch because we got so much rain around thanksgiving. we are not doing that bad for the entire year. past couple of months we're in significant deficit. big ridge of high pressure, how big? storm track up towards seattle vancouver british columbia nowhere close to us. nor is that going to be changing anytime soon. the high is off to the west as we'll still get cool northerly flow. temperatures in the low 60s. i know, such problems we have around here. as high pressure gets closer to us we'll see temperatures increase by the end of the week and some of you by friday will be up near 70 degrees for highs. so what to expect? we are not as cold at night temperatures a couple of degrees milder each night. sunshine through the weekend. it's only monday but we're very sure of that. and temperatures on friday will be close to 70 degrees. tomorrow concord 62,san jose 63. palo alto 62. union city 61. low 60s for p
since the top of the year, big deficit for rainfall. we are down 5.5" but the deficit when you go back to july 1 our water year only an inch because we got so much rain around thanksgiving. we are not doing that bad for the entire year. past couple of months we're in significant deficit. big ridge of high pressure, how big? storm track up towards seattle vancouver british columbia nowhere close to us. nor is that going to be changing anytime soon. the high is off to the west as we'll still...
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so-called three percent treaty force in france to reduce its budget deficit down from four point five percent by hiking taxes and cutting spending. but while harsh criticism expected from the opposition disapprovals also been growing from like minded left wingers or complains when i think the president especially of a country like france one of six e.u. founders should be strong enough to say stop to others and say hey i have my nation behind me and they elected me to make changes instead he surrendered because he's more worried about the country's debt and the ratings agencies make. in a short video french communists put together some of our lawns major presidential campaign bows none of which they say came true. look what that's. the value added tax increase. i think it's inappropriate and unjustified and unreasonable and too hasty. what happened to well that's to remind the present with you remember you promised to review the european treaty you didn't do that here in germany set a three percent deficit isn't real but now only say it's possible etc etc you can't not do what you pro
so-called three percent treaty force in france to reduce its budget deficit down from four point five percent by hiking taxes and cutting spending. but while harsh criticism expected from the opposition disapprovals also been growing from like minded left wingers or complains when i think the president especially of a country like france one of six e.u. founders should be strong enough to say stop to others and say hey i have my nation behind me and they elected me to make changes instead he...
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what would you call a deficit hawks or austerity pushers or whatever no i don't think they're unique but they're the most visible they have what they call a sovereign unit that looks at the credit ratings of governments and the head of that unit has been acting like a stopper in for quite some time issuing dictates the u.s. government and other governments about how the people should manage their own budgets so i think they've been very visible in this regard i mean i think that but the other thing to remember and particularly with the payback theory is you know i'm one of the few people who did the analysis on this but when they downgraded the u.s. back in two thousand and eleven the stock market didn't care at all there was no penalty for the united states government in that downgrade so i think that is you know they're not unique but there are two things different about them one is that they're very visible in talking about deficits and the government but number two is that thanks to the eleven subcommittee as senator carl levin in congress there's a great deal of documentation of
what would you call a deficit hawks or austerity pushers or whatever no i don't think they're unique but they're the most visible they have what they call a sovereign unit that looks at the credit ratings of governments and the head of that unit has been acting like a stopper in for quite some time issuing dictates the u.s. government and other governments about how the people should manage their own budgets so i think they've been very visible in this regard i mean i think that but the other...
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so-called three percent treaty force in france to reduce its budget deficit down from four point five percent by hiking taxes and cutting spending. but while harsh criticism expected from the opposition disapprovals also been growing from like minded left wingers or complain but i think the president especially of a country like france one of six e.u. founders should be strong enough to say stop to others and say hey i have my nation behind me and they elected me to make changes instead he surrendered because he's more worried about the country's debt and the ratings agencies make. in a short video french communists put together some of our lawns major presidential campaign vows none of which they say came true. look what that's all going to be oh the value added tax increase. i think it's inappropriate and unjustified and unreasonable and too hasty. what happened to well that's to remind the president do you remember you promised to review the european treaty you didn't do that here in germany set a three percent deficit isn't real but now only say it's possible etc etc you can't not
so-called three percent treaty force in france to reduce its budget deficit down from four point five percent by hiking taxes and cutting spending. but while harsh criticism expected from the opposition disapprovals also been growing from like minded left wingers or complain but i think the president especially of a country like france one of six e.u. founders should be strong enough to say stop to others and say hey i have my nation behind me and they elected me to make changes instead he...
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Feb 9, 2013
02/13
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FOXNEWS
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. >> we got that cbo report this past week, 7 trillion dollar in additional deficit and factor in what that 600 billion dollars in tax hikes that the democrats did already push through and how does that balance things? but the point about baltimore is interesting because that's where this nation could possibly be headed. you continue to raise taxes and you don't cut spending and you wind up on the brink of bankruptcy, exactly where that city is. >> you know, ben, you say we're all eventually going to have to pay higher taxes, but as the only item in your play book how to fix your economy it doesn't seem like it's ever going to work. >> i keep thinking if taxes are so terrible, why don't we just have no taxes at all. why don't we pay for-- >> 100% taxes. >> why don't we have no taxes at all and why don't you not interrupt me for once? >> i can't help it. >> why don't we have no taxes at all and why don't we have some some balance in the budget. and for gosh sakes, we're grownup disciplined people and we're supposed to balance the budget not supposed to be like small children. >> okay, c
. >> we got that cbo report this past week, 7 trillion dollar in additional deficit and factor in what that 600 billion dollars in tax hikes that the democrats did already push through and how does that balance things? but the point about baltimore is interesting because that's where this nation could possibly be headed. you continue to raise taxes and you don't cut spending and you wind up on the brink of bankruptcy, exactly where that city is. >> you know, ben, you say we're all...
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Feb 13, 2013
02/13
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CSPAN2
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eye 64
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what's happened to the deficit? the annual deficit? 2008 deficit was $458 billion. too much money, yes, but deficit in 2013, $1.3 # trillion. what's the problem? ladies and gentlemen, i suggest to you that we have a spending debt crisis, not a revenue debt crisis. you got to make the right diagnosis. to put it in a little greater context. we spend $3.6 trillion as a nation as a whole each year, $3.6 trillion, about $2.5 trillion of that is medicare, medicaid, social security, and interest on the debt, those four things. the entire federal government, the rest of the entire federal government, everything, everything, post office, roads, transportation, justice, education, energy, defense, everything else is about a trillion dollars. you all just heard what the deficit was last year, $1.3 trillion, meaning that you could do away with the entire federal government with the exception of medicare, medicaid, social security, and we wouldn't even balance the budget. that's the magnitude of the challenge that we have. it's incumbent upon us to come up with solutions, positi
what's happened to the deficit? the annual deficit? 2008 deficit was $458 billion. too much money, yes, but deficit in 2013, $1.3 # trillion. what's the problem? ladies and gentlemen, i suggest to you that we have a spending debt crisis, not a revenue debt crisis. you got to make the right diagnosis. to put it in a little greater context. we spend $3.6 trillion as a nation as a whole each year, $3.6 trillion, about $2.5 trillion of that is medicare, medicaid, social security, and interest on...
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Feb 5, 2013
02/13
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. >> reporter: under the terms of earlier deficit deals, congress will find $85 million in reductions by march 1st. if not, they would shrink pentagon spending by 7.9% and domidwesting spending by 5.3% and medicare a 2% reduction. >> i believe they should pass a smaller package of spending cuts and tax reforms that would delay the economically damaging affects of the sequester for a few more mots until congress finds a way. >> reporter: the president wants to raise more money by ending tax loopholes, but republicans want deeper entitlement cuts. >> if we're going to connect with the american people, it's important that they see not only that we're serious about solving our debt problems. >> a studdie by george mason university estimated 448,000 jobs could be affected in d.c., maryland, and virginia. for months, defense contractors have pleaded for action. >> we would hope that congress would meet their obligations to us and to the public. >> reporter: virginia congressman frank wolf wrote to the president and speaker arguing the bipartisan plan would avoid sequestration and stop its w
. >> reporter: under the terms of earlier deficit deals, congress will find $85 million in reductions by march 1st. if not, they would shrink pentagon spending by 7.9% and domidwesting spending by 5.3% and medicare a 2% reduction. >> i believe they should pass a smaller package of spending cuts and tax reforms that would delay the economically damaging affects of the sequester for a few more mots until congress finds a way. >> reporter: the president wants to raise more money...
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Feb 6, 2013
02/13
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MSNBCW
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the deficit's going down. this year alone, medicare, medicaid, social security and interest on the debt consumes every dollar that washington takes in. this is such a crisis, and it's growing. >> well, this whole idea that don't worry about the debt, you had a little tangle with the krugman a couple of weeks ago. this exposes how wrong the view is. don't worry about the debt because the debt has built to a large number what the congressional budget office is showing is that we're going to be paying a lot of money on that debt, and it's going to crowd out vital public services. and that's why we had to worry about the debt all along. and we didn't. now it's built up. now we're facing reality. i thought it was a little odd. the president said, well, we have to do something, but he didn't offer anything to do because the main part he played was two months ago, he said, let's make the tax cuts permanent, both sides, and now we see, well, you can't afford that. >> you talk about paul krugman -- >> that's what they
the deficit's going down. this year alone, medicare, medicaid, social security and interest on the debt consumes every dollar that washington takes in. this is such a crisis, and it's growing. >> well, this whole idea that don't worry about the debt, you had a little tangle with the krugman a couple of weeks ago. this exposes how wrong the view is. don't worry about the debt because the debt has built to a large number what the congressional budget office is showing is that we're going to...
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Feb 11, 2013
02/13
by
FBC
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what is an acceptable deficit in your view? >> it is one where you have, look, i look at it in a different way. i think you want to get us back to full employment, the restaurants fall, the shops full, the deficit will come down what we get to that sort of a situation. [talking over each other] >> i always say that blaming the deficit for our problems is like blaming the barometer because it records when someone has influenza. dagen: do you think that it has worked for us? you are happy with negative growth in the fourth quarter without no. absolutely not. they have been cutting and cutting and cutting. look at the uk, for example. we have had deficits that have actually been increasing. if you actually think that deficits are a problem, and i can understand the concern about debt out there, if you think it is a problem, did you have to have growth. dagen: some people think if you cut spending and more money will go to the private economy. i am saying that you can argue it both ways. >> when you have concrete examples in europe
what is an acceptable deficit in your view? >> it is one where you have, look, i look at it in a different way. i think you want to get us back to full employment, the restaurants fall, the shops full, the deficit will come down what we get to that sort of a situation. [talking over each other] >> i always say that blaming the deficit for our problems is like blaming the barometer because it records when someone has influenza. dagen: do you think that it has worked for us? you are...
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Feb 10, 2013
02/13
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you go from the fiscal cliff to the deficit debate to sequestration. that is inherently disruptive to business investment. certainty is a good multiplier. we are these long cycle businesses that have global competition. i do not have the lecture he to say that i will quit investing for six months until this is resolved. i will keep going. the people who can hurt the worst by all of this are the small and medium businesses. the people that have no buffer. that get confused. these are the people that are the heart of the u.s. economy. they are the ones that are constantly being bombarded as we go from one to another. this can only be solved here. this is one of the few cases where the business roundtable of people speak with one voice. it would be great to get a resolution. >> there is a divide in the corporate side on the corporate tax front. large companies would benefit more from corporate tax reform, especially going to a territorial system, then smaller firms. it may be hard to convince americans that the president and congress should invest time in
you go from the fiscal cliff to the deficit debate to sequestration. that is inherently disruptive to business investment. certainty is a good multiplier. we are these long cycle businesses that have global competition. i do not have the lecture he to say that i will quit investing for six months until this is resolved. i will keep going. the people who can hurt the worst by all of this are the small and medium businesses. the people that have no buffer. that get confused. these are the people...
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Feb 4, 2013
02/13
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MSNBC
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that we need additional revenue, coupled with smart spending reductions in order to bring down our deficits. we can do it in a gradual way. when you look at these deductions that people are able to take advantage of, the average person can't take advantage of. the average person doesn't have access to cayman island accounts. so, we just want to make sure that the whole system is fair. >> all right, today is the day one in the new job for secretary of state john kerry, he got an early start over the weekend, he reached out to world leaders by phone, pledging to continue pushing for peace talks. >>> the senate armed services committee is expected to vote his nomination to senate. former white house press secretary robert gibbs was on meet the press, admitted that it wasn't hagel's finest hour. >> the disconcerting thing for anybody who watched it he seemed unimpressive and unprepared on the questions that quite frankly he knew was coming. i'm reminded three weeks into the first term of the president obama administration, treasury secretary timothy geithner gives a, the market dropped 382 poin
that we need additional revenue, coupled with smart spending reductions in order to bring down our deficits. we can do it in a gradual way. when you look at these deductions that people are able to take advantage of, the average person can't take advantage of. the average person doesn't have access to cayman island accounts. so, we just want to make sure that the whole system is fair. >> all right, today is the day one in the new job for secretary of state john kerry, he got an early...
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Feb 6, 2013
02/13
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WTTG
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congress must find $85 billion in deficit reduction somewhere by march 1st. otherwise, pentagon spending would shrink by 7.9%. domestic spending by 5.3% and medicare would take a 2% reduction. the president prefers an option that raises more money by closing tax loopholes. republicans want to stick with spending cuts only. a study by george mason university estimated that 448,000 jobs in d.c., maryland and virginia could be affected by automatic indiscriminate budget cuts. business leaders and local congressmen are concerned about the impact on our economy. >> and sequestration will hurt not only the defense side but the non-defense side. my committee funds the f.b.i. there will probably be furloughs at the f.b.i. there will be furloughs potentially at the national cancer institute, at nih. this thing has ramifications for defense and non-defense. >> reporter: the cuts were originally scheduled to kick in january 1st because congress couldn't grow on a broad package to reduce the deficit several times in 2011 and 2012 in excomping for republicans agreeing to
congress must find $85 billion in deficit reduction somewhere by march 1st. otherwise, pentagon spending would shrink by 7.9%. domestic spending by 5.3% and medicare would take a 2% reduction. the president prefers an option that raises more money by closing tax loopholes. republicans want to stick with spending cuts only. a study by george mason university estimated that 448,000 jobs in d.c., maryland and virginia could be affected by automatic indiscriminate budget cuts. business leaders and...
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to pay down the deficit. and it should be used to potentially make our businesses more competitive. now, i think, is balanced mix of spending cuts and tax reform is the best way to finish the job of deficit reduction. the overwhelming majority of the american people, democrats and republicans, as well as independents, have the same view. and both the house and senate are working towards budget proposals that i hope help reflect this balanced approach. having said that, i know that having a full budget may not be finished before march 1. unfortunately, that is the date my fear is a powerful automatic cuts also known as the silk was sure are scheduled to take effect. if congress cannot act immediately on a bigger package -- i believe they should at least pass a smaller package of spending cuts and tax reforms that would delight the damaging effects of the sequester for a few months. there is no reason that the jobs of thousands of americans who work in national security or education or clean energy, not to ment
to pay down the deficit. and it should be used to potentially make our businesses more competitive. now, i think, is balanced mix of spending cuts and tax reform is the best way to finish the job of deficit reduction. the overwhelming majority of the american people, democrats and republicans, as well as independents, have the same view. and both the house and senate are working towards budget proposals that i hope help reflect this balanced approach. having said that, i know that having a full...
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Feb 6, 2013
02/13
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CSPAN
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we all want to fix the deficit problem. there's no question. but i think when they have a chance to look at this bill and understand what we're really facing, i don't think we're going to have a problem there. >> sir, how is this different from the proposal of a year ago? >> did we have the pay freeze? [laughter] >> it's different. obviously we had two different versions. the house as i understood it had the attrition of the work force that's in this component. in the senate last time we had a combination of -- instead of for every three positions that came open, only filling one. we had two and a combination of overall pay freeze across the federal government, for over a year. this is different. it combines both so we're on the same page. and we have the house proposal on the attrition and we've also added congressional pay freeze on it instead of the entire civilian work force. >> what makes you think that this time around, that speaker boehner's going to take up this proposal? >> i >> i would defer to others here and the chairman but there's
we all want to fix the deficit problem. there's no question. but i think when they have a chance to look at this bill and understand what we're really facing, i don't think we're going to have a problem there. >> sir, how is this different from the proposal of a year ago? >> did we have the pay freeze? [laughter] >> it's different. obviously we had two different versions. the house as i understood it had the attrition of the work force that's in this component. in the senate...
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Feb 10, 2013
02/13
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CSPAN
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that's just the nature of dealing with the size deficit -- size of deficits that you got. my preference, frankly, is that the congress would do the big deal, get it done, get this behind us, detrigger sequester, some this constant uncertainty, -- stop this constant uncertainty, this month-to-month situation where we don't know what the hell we're going to get. that should end. in the absence of that deal, obviously i'll support whatever package you can put together to try to detrigger sequester. whatever you can do to make sure this doesn't happen. i mean, i cannot imagine that people would stand by and deliberately hurt this country in terms of our national defense by letting this take place. >> i'll only add briefly that most of the things we're doing are reversible. that is our goal, that they would be reversible. even if you reverse them it will take sometime, and i can't predict that, we're trying to stretch readiness. i want to make sure you all realize one other thing. we took the decision on the carrier postponement very seriously because there is a human dimension
that's just the nature of dealing with the size deficit -- size of deficits that you got. my preference, frankly, is that the congress would do the big deal, get it done, get this behind us, detrigger sequester, some this constant uncertainty, -- stop this constant uncertainty, this month-to-month situation where we don't know what the hell we're going to get. that should end. in the absence of that deal, obviously i'll support whatever package you can put together to try to detrigger...
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Feb 12, 2013
02/13
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CSPAN
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so what's happened to the deficit, the annual deficit? 2008 deficit was $458 billion. too much money. yes. but $458 billion. deficit in 2013, 2012, $1.3 trillion. so what's the problem? ladies and gentlemen, i would suggest to you we have a spending debt crisis, not a revenue debt crisis. and you've got to make the right diagnosis. to put it in a little greater context. we spend about $3.6 trillion as a nation, as a whole each year, $3.6 trillion, about $2.5 trillion, $2.6 trillion is medicare, medicaid, social security and interest on the debt. those four things. the entire federal government, the rest of the entire federal government, everything, everything, post office, roads, transportation, justice, education, energy, defense, everything else is about $1 trillion. you all just heard what the deficit was last year. $1.3 trillion. which means we can do away with the entire federal government with the exception of medicare, medicaid and social security and we wouldn't even balance the budget. that's the magnitude of the challenge that we have. so it's incumbent upon
so what's happened to the deficit, the annual deficit? 2008 deficit was $458 billion. too much money. yes. but $458 billion. deficit in 2013, 2012, $1.3 trillion. so what's the problem? ladies and gentlemen, i would suggest to you we have a spending debt crisis, not a revenue debt crisis. and you've got to make the right diagnosis. to put it in a little greater context. we spend about $3.6 trillion as a nation, as a whole each year, $3.6 trillion, about $2.5 trillion, $2.6 trillion is medicare,...
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Feb 6, 2013
02/13
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WUSA
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if there's no long-term agreement to reduce the deficit. those cuts would take a big bite out of military spending and domestic programs. including a 2% hit to medicare. danielle nottingham, cbs news, the white house. >>> it was supposed to be just a vacant apartment building, but today an incredible fast moving fire killed two people who were living inside it. firefighters were hurt today while battling the blaze on r street and southeast. bruce johnson reports, squatters, not uncommon in our nation's capital. >> a motorist passing by was the first to see planes planes -- flames pouring out of the building. >> i don't know what happened. >> it took firefighters an hour to knock down the two- alarm blaze, but not before two of them had injured shoulders and a third firefighter injured an ankle. the news will get worse. two bodies were discovered in the fire. >> there's a possibility that they may have gone in there to get away from the environment. >> city officials say the unit was listed as vacant. that meant the two people found inside w
if there's no long-term agreement to reduce the deficit. those cuts would take a big bite out of military spending and domestic programs. including a 2% hit to medicare. danielle nottingham, cbs news, the white house. >>> it was supposed to be just a vacant apartment building, but today an incredible fast moving fire killed two people who were living inside it. firefighters were hurt today while battling the blaze on r street and southeast. bruce johnson reports, squatters, not...
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Feb 6, 2013
02/13
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FOXNEWSW
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deficit reduction is not a priority. martha: the president believes the economy is getting back on track. so let the folks decide. stuart, thank you very much. gregg: according to the cbo. by the end of the year the federal debt held by the american people will be 76% of the gdp and it doesn't get much better from there. martha: the cbo also predicting unemployment will be with us for some time to come. here is the director of the cbo. >> under current law we expect the unemployment rate will remain above 7.5%. that would make 2014 the 6th year in a row with unemployment so high. the longest such period in 70 years. martha: the unemployment rate has been above 7% since december of 2008. and most recent monthly number ticked up from 7.9% from 7.8%. not a good trend. when you look at some of these numbers it makes it a tough argument for economic recovery. but the president remains convinced we are starting to see it. gregg: poverty is up. incomes are down. so the arrow is going the wrong way. in the meantime president oba
deficit reduction is not a priority. martha: the president believes the economy is getting back on track. so let the folks decide. stuart, thank you very much. gregg: according to the cbo. by the end of the year the federal debt held by the american people will be 76% of the gdp and it doesn't get much better from there. martha: the cbo also predicting unemployment will be with us for some time to come. here is the director of the cbo. >> under current law we expect the unemployment rate...
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Feb 8, 2013
02/13
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CSPAN2
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you've got to address the larger deficit issue, and to address the larger deficit issue -- and my own experience. i've participated in every budget summit we have indiana past -- we have had in past years. you have to develop a balanced package. that's the nature of dealing with the size deficits you've got. and my preference, frankly, is that the congress would do the big deal, get it done, get this behind us, detrigger sequester, stop this constant uncertainty. this month-to-month situation where we don't know what the hell we're going to get. that should end. in the absence of that deal, obviously i'll support whatever package you can put together to try to detrigger sequester. whatever you can do to make sure this doesn't happen. i mean, i cannot imagine that people would stand by and deliberately hurt this country in terms of our national defense by letting this take place. >> i'll only add briefly that most of the things we're doing are reversible. that is our goal, they would be reversible, but even if you reverse them it will take some time -- and i can't predict that yet -- w
you've got to address the larger deficit issue, and to address the larger deficit issue -- and my own experience. i've participated in every budget summit we have indiana past -- we have had in past years. you have to develop a balanced package. that's the nature of dealing with the size deficits you've got. and my preference, frankly, is that the congress would do the big deal, get it done, get this behind us, detrigger sequester, stop this constant uncertainty. this month-to-month situation...
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Feb 6, 2013
02/13
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MSNBC
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it doesn't meet the entire deficit, if you will. they're losing $16 billion a year, and this is important. you've got to understand why they're losing it. the biggest reason they're losing so much money is because they, unlike any other government entity, they are forced to pay in advance for the retirement medical benefits of their retirees even before they retire. so as a result, that huge chunk of cash that they have to set aside is costing them a fortune and it is a huge drag on the postal service. second to that, yes, all of us are using e-mail and paying our bills online. and therefore first class mail has dropped off a cliff. however, package delivery has increased dramatically because you and i are shopping online and all of those packages are sent to our homes. so that's been up 14% over two years. so in the view of many, this is the postal service trying to force the hand of congress. congress has had this on their agenda for years and has failed to act, even though the postal service year after year after year comes out a
it doesn't meet the entire deficit, if you will. they're losing $16 billion a year, and this is important. you've got to understand why they're losing it. the biggest reason they're losing so much money is because they, unlike any other government entity, they are forced to pay in advance for the retirement medical benefits of their retirees even before they retire. so as a result, that huge chunk of cash that they have to set aside is costing them a fortune and it is a huge drag on the postal...
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Feb 8, 2013
02/13
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already in 2012, the budget has a deficit of 16 billion euros. we have to sacrifice and penalize thousands of students. what's the meaning of this? what's the point of this that members states, heads of state are just going to run a deficit? we are not going to go along with his, mr. president. there are rules and we will make sure they are respected, starting with article iii 10 which calls for a balanced budget. do i really have to remind you that this deficit system led to member states to the situation which we find ourselves today? it's a standing that member states are opposing something on the one hand, they are asking to strengthen our economic governance with a sixpack and with a sixpack and a two pack, and they're asking us to stop running deficits. but they want us to learn these bad habits all over again. we've got 960 billion commitments, and the same amount of payment. any direction of a company will tell you that's economic suicide, and it is too simple, mr. president, and you shouldn't hide behind david cameron. you are faced with
already in 2012, the budget has a deficit of 16 billion euros. we have to sacrifice and penalize thousands of students. what's the meaning of this? what's the point of this that members states, heads of state are just going to run a deficit? we are not going to go along with his, mr. president. there are rules and we will make sure they are respected, starting with article iii 10 which calls for a balanced budget. do i really have to remind you that this deficit system led to member states to...